Crypto dictionary

fiat - The currency with forced circulation, same as CZK, EUR, USD, CNY and much more. (Everyone knows these papers, which we have in our wallets and we all call them a money.)

pump - the more significant increase of the price

dump or correction - more significant decrease of the price

hodl - an anchor of English hold - (To buy, but don't trade for several years .) Sometimes also planning, hodlax or Hodor (same as the actual name of the serial character from The game of Thrones who kept saying only Hodor.)

waving - the opposite of hold (Trying to sell while price increase and then buy again when it decrease under my selling price. It is adorable, most of the newbies go this way just to find out by some time that they would do better if they would be only holding instead of trading and spending hours in front of pc. It does look simple, but one can keep profiting for 10 times in raw to let escape 50% increase by mistake and entering it lately. Which is not worth of doing that)

ATH - All-Time High - Highest price ever reached

TA - technical analysis (It is supposed to be those lines, which are drawn into graphs by some of us 😁)

volume - the trading amount of some cryptocurrency (usually for last 24 h) on all exchanges together or just on one of them

market cap - Trading capitalize of the cryptocurrency (or all the cryptocurrencies)

Fibo - Fibonacci retracement the method of technical analysis, which helps to determinate the points at the graph, where is the probability of next price switch

altcoins - another cryptocurrency than bitcoins (Sometimes also alts or shitcoins. The shitcoin terminus is used more for pointing at those cryptocurrenies which have very low trading capitalization or for the newbie crypto.)

Onecoin - scam and pyramid fraud game which looks like cryptocurrency. The has the army of MLM fanatics spreaders who you better keep away from yourself, forget to argue them - you will never get read of them so they happened to became a final destination for ours jokes time to time in here. (another similar is DasCoin)

Trezor - also bitcoin Trezor - it is The original Czech bitcoin hardware wallet not only for bitcoins (It is a “must have” for everybody serious about cryptocurrencies.)

Ledger - Ledger nano s - it is a kind of the Trezor but from a different producer)

Polo = exchange Poloniex

Stamp = exchange Bitstamp

Finex = exchange Bitfinex

2FA - 2 Factor authentication while logging, which I highly recommend to keep on on each exchange used by you! (otherwise, you may become the owner of the robbed account one day and believe me - there are plenty of other ways how to rob your account, money doesn´t need to be sent out only via regular transfer..), by the way, it is good to know, that the code, which is generated f.e.by Google authenticator is valid for a quite long time after it is used.

1 Satoshi = 0,00000001 of Bitcoin (this is the smallest unit of the Bitcoin at the moment, named by the creator of BTC, who stay at the shadow of anonymity, he call himself Satoshi Nakamoto)

margin - trading of the debt (or - for the newbies here - the fastest way how to lose everything, including your pans. But excluding the investments in Onecoin, of course 😁)

long - long position - This describes the actual speculating on the increase of the price of the crypto while using your debt.

short - short position -The speculation on the decrease (I can lend it, for the price of the fees, from someone who owns it on exchange and pay that back later, while the price of that crypto decrease. The difference between purchase and sale price minus the fees makes my profit.)

stop loss - it is the order, which causes the action of automatic sell of the crypto while it reaches the pre-setup border so the loss of the investor isn´t going deepen while ongoing decrease. Even that, I do not recommend to use it at all because here in the crypto world, more than anywhere else, the flash crashes are happening time to time. The Flash crush is very deep but short timed decrease in the price which causes the low sale even that price raise back or a bit higher after a few minutes

fees and market maker/taker model - market maker (the creator of the market) The one who sent his offer to the exchange by creating the order in o the order book (it is kind of the order book - you just set up the acceptance limits for buy and sell). This service is usually charged via fees. The market takes the one who uses the offer of the Market Makers for direct sale or purchase. ( The higher fees are usually applied thanks to that).